Business Standard

EV manufacturer Greaves Electric eyes first annual net profit in FY25

Company likely to see net losses for FY23 & FY24

Greaves Electric Mobility's V48. Photo: Company website.

Greaves Electric Mobility's V48. Photo: Company website.

Deepak Patel New Delhi
Electric vehicle (EV) manufacturer Greaves Electric Mobility (GEMPL), which is a subsidiary of Greaves Cotton, is likely to post its first annual net profit of Rs 194.4 crore in FY25.

The company is expecting to see net losses of Rs 37.1 crore and Rs 18.5 crore in FY23 and FY24, respectively, according to its internal projections, which have been reviewed by Business Standard. Greaves Electric manufactures electric two-wheelers under the Ampere brand and three-wheelers under the Ele and Teja brands.
These projections comprise consolidated profitability statements and balance sheets from FY23 to FY27.

They were provided by Greaves Electric’s management

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First Published: Feb 19 2023 | 9:23 PM IST

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